Post
Topic
Board Trading Discussion
Re: Does technical analysis work in crypto trading?
by
Litzki1990
on 20/12/2023, 18:29:08 UTC
For all my 5 months in trading, I'm learning only technical analysis but now everyone is talking about the concept of "Smart Money". So I think that trading is changing and speculators should stop trading based on technical analysis. Or smart money just a concept that cannot possibly work in the market,
Technical analysis works fine and everything that happens out there in the market both the news events are represented there in the chart, but the problem we as traders have is that we will always make trading mistakes in our analysis or our actions in the market, and that makes technical analysis seem not working perfectly, human emotions affects the direction of the market as trader will tend to react to the changing market as sudden events like war, bad economic news etc. unfolds, While on the smart money concept, I urge you to go study the Wyckoff schematic of method accumulation and distribution phase, you would realize that it plays out most of the time in the market.

Technical works both in the traditional market and in the crypto markets.

Not only technical analysis works in cryptocurrency trading and the fact that such is being used does not give the accurate conclusion to wether it could be the best of it all, we can also have some available alternatives in most times, it's in our new attempts on using any of the means or strategies in performing our trades that determines what we see in reflection of our kind of trade in consideration most times, we may just also needs to know much of ourselves than the other prediction analysis we may have.
There is definitely a need for technical analysis in the field of studying. A trader can easily understand the market by doing technical analysis. There is no alternative to having a simple understanding of the market to be successful in trading. We all know that the market is changing every moment and sometimes the market changes by surprising us, at that time we have to analyze the market by ourselves instead of relying on technical analysis.Technical analysis can usually be done by considering the past and present but if there is a sudden big change in the market then this analysis will be wrong and manual analysis is required at that time. But having all kinds of ideas in the field of trading is definitely a very necessary task for a trader.